Summary
Enbridge Inc. (ENB) filed an 8-K on February 17, 2022, to report the completion of a significant debt offering. The company successfully issued US$400 million in 2.150% Senior Notes due 2024, US$500 million in 2.500% Senior Notes due 2025, and US$600 million in Floating Rate Senior Notes due 2024, totaling US$1.5 billion in aggregate principal amount. These notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, both indirect wholly-owned subsidiaries. This offering was conducted under Enbridge's existing Form S-3 Registration Statement filed in May 2019. The filing also details the associated underwriting agreement and legal opinions confirming the validity of the notes and guarantees. For investors, this signifies Enbridge's ongoing access to capital markets to fund its operations and potential growth initiatives, with a clear overview of the new debt structure and its guarantors.
Key Highlights
- 1Completion of a US$1.5 billion senior notes offering on February 17, 2022.
- 2Includes US$400 million of 2.150% Senior Notes due 2024.
- 3Includes US$500 million of 2.500% Senior Notes due 2025.
- 4Includes US$600 million of Floating Rate Senior Notes due 2024.
- 5Notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP.
- 6Offering was made under Enbridge's existing Form S-3 Registration Statement.
- 7Filed supporting documents including the underwriting agreement and legal opinions.